Guys, the US June CPI data is coming again tonight!

The overall CPI is likely to fall by 0.1%-0.2% month-over-month, and year-over-year is likely to drop from 4.2% to around 3.8%. It looks like things are cooling down, but I’m telling you not to be fooled!
Energy dropping is what’s dragging down the headline number, but core CPI is still expected to rise 0.2% month-over-month and 2.8% year-over-year. Housing, cars, travel—none of them have loosened, and even Wall Street institutions have directly said it’s a fake cooldown!
The bond market is already pricing in a big jump in the chance of a July rate hike by the Fed to 50%, with the 2-year US Treasury yield holding firmly above 4.25%.
Now let’s look at the crypto market—$BTC is trading in a 62,000 range and $ETH is just swinging along; the shorts are waiting for a dump, while the longs are hoping for good news.
Personally, I think if tonight’s data doesn’t surprise to the upside, crypto is likely to drop first and then trade sideways, because the bull run turning point still has to wait for the Fed to loosen.
And for those who are scared to miss the chance to rebound, but also scared of getting cut—come on → scan the code to enter the chat room. Here you can get the most down-to-earth, real-time trading views—Sister Rong will take you to ride the harvesting trend!
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